January 09, 2015
New Report Breaks Down the Customer Analytics Market Through 2019
By Steve Anderson
Contributing TMCnet Writer
The use of customer analytics tools has been shown, in the past, to have a useful impact on businesses of many stripes. Being able to get a better idea of what the customer wants, and doesn't want, over a period of time can have a great impact on inventory ordering and the like. But for those businesses who could use a bit of shoring up when it comes to customer analytics, the market for such tools can be somewhat complex. Thankfully, a new report out from ReportLinker can help newcomers—and even those who have been around a while—make better sense of this complex field.
The report serves two purposes, according to reports: one, it breaks down the market into solutions and services, providing revenue numbers for not only the sub-sections of the market, but the entire market in aggregate. Two, it provides the information necessary to derive insight into the larger market as a whole, giving decision makers the needed background to get a handle on what's going on in the field and how it can be used to help drive new processes and purchases within the business itself.
Within the report, meanwhile, a variety of sectors will be examined, ranging from customer acquisition to customer retention, covering the entire continuum of customer care. Tools for conducting several breeds of analysis will also be on hand, ranging from customer behavior to patterns to predictions based on current information, which means most every application of analytics tools should be on hand in this report. Plus, there's also a clear breakdown of understanding in terms of accountability; while a Web analytics solution can provide information about buyers' responses to online marketing activities, it can really only do so while said buyers are online. Should offline purchasing take place, or should offline marketing have an impact on online behavior, then a Web analytics solution wouldn't be much help.
Even better, the report is also set to tackle possible futures for the analytics market, which will help provide insight into what may be good right now, but may not be so useful even just a few years down the road. Businesses that plan into five years forward or more will get some particular benefit out of that.
In the end, what this report should serve to do is provide a fairly detailed road map of analytics as we know it today, and may well know it tomorrow. Businesses of all sizes—from major enterprise down to the small and medium-sized business (SMB) market—have likely already been considering analytics on some level, and several have put it in play already. For those who have, this report will provide extra background into the ways and means to take advantage of what's out there and what will be out there in the future. For those who haven't, it may be a fine starting point to put these valuable tools to work.
The end result here is that analytics are powerful, and have contributed to some great results for those companies using such operations. While such may not work for everyone equally well, there's still plenty of possibility on hand, and it all begins with the kind of knowledge this report can offer.
Edited by Maurice Nagle